Today we reviewed Chapter 6 in our text books. The greater portion of our time discussing Baisle I's Tier I & II ratings and Baisle II's three pillars. We discussed how Baisle I inadequitely measured for the risk specifically pertaining to residential home loans. Baisle I had prime and sub-prime loans equally weighted when pertaining to risk, while Baisle II accounts for the risk better by showing that sub-prime loans are more risky. We briefly discussed what is being proposed for Baisle III, since Baisle II is already outdated.
Tomorrow, we are going to the Lloyd's of London. We are gettin dressed in our suits and doing it big in London!
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